Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1887-07-01
hey poWNep CYRUS.

HEY DoWNED CYRUS.
Gould and sage do up their Confiding
speculative Associate, aIr. Field.
New York special. In regard to the
sale Of the block $4,000 shares of Man
hatten elevated railway stock by Cyrus
w. Field to- Jay Gould, the Times say
Jay Gould and Russell Sage are
triumphant. CYRUS w. Fields scalp has
been taken. Wall street has 3 new
victory to celebrate and aboriginal.
savsgery Is once more discounted by the
stock exchange. Field made o brave
fight, but he did not realize until the
end oarne that he was to be struck down
III the very house of his friends. He
knows a good many things now that he
has learned the value of protested friend
ship and declared partnership. He has
seen what dollars and cents have to do
with loyalty. He discovers how cheap
rs duplicity and double dealing and
downright betrayal. His feet have
gone patter, patter, patter, Just as Deacon
Sage prophesied they we're bound to go
when the time was ripe for the Sage and
Gould onslaught. On information COM
ing direct from Jay Gould and Russell
Sage, the Times chronicled the fact last
week that that distinguished twain had
Fields financial diacomftnre in view
when they preoipitated what amounted to
q stock exchange panic, by. schemes that
enabled them to get q temporary corner
on money. Men of consequences saw
through the Gould Sage tactics early in
the game, The terrified tumbling that
was given Manhattan stock settled ell
questions as to the purpose of the pre-
cious pair and the oonvictiong thus
formed were made indispusable when
early in the panicky time OF Friday,
while Manhattan was stamping head
long down over 40 points, one OF Fields
most prominent personal brokers had to
60 begging around the streets for an ex-
tension on his contracts. No hint of
this has hitherto been made public. Had
it been announced during the troublous
scenes Of the stockeexchange, a sweep
ing panic could not have been stay
ed. But the extension petitioned for
was given, the disaster was prevented,
and the man who was merclful and gem
erous at that moment was q man whom
Cyrus w. Field has attacked ruthleesly.
The generosity OF an enemy kept off q
panic then, just az thrnsts of friends and
partners now accomplish embarrass-
ment and sack him of fearful spoils.
There 10 more b a one kind of man in
Wall street. Early yesterday morning
Wall street began to boom out witch
estories corroboratIye of all that the
Times had outlined, end before noon the
floating rnmors had crystalized into the
generally accepted belief that Field had
been obliged to seek Gould's favor,
swapping q big lot of Manhattan stock
for needed money, Fifty Thousand
shares OF stock, it Wac agreed, had been
given up by Field. The first quoted
price was SIPS q share. but that rate
was not long accepted, and before BUSH
ness closed for the day it generally pass-
| ed on the stock exchange as an undis-
puted fact that Gould had been obliged
to pay only 800 q share for the $4,000, 900
he had taken. Some very strenuous
efforts were made to disguise the trans
actions, but before the day wac over mo-
body presumed to deny any Of the main
facts.
What are Mr.. Fields lossesP This is
something that nobody but himself can
| figure cut. a good deGl of Fields stock
cost him very little. He picked it up
halt o dozen years ago when, with Sage
and Gould, ne carried q bear campaign
to such an INSCRIPTIONS extent that the
most legitimate investors we're frightened
out of their stock at great sacrifices.
But during the last two or three years,
since the stock wat ballooped away up
-lG and 20 and so and rs points above
par-he has been obliged to take on q
big additional burden Of the stock at
the inflated price in order to keep the
quotations safe and steady. and 1t is hard.
~ likely that this average price fell any
under par. Sage for certain aud Gould
undoubtedly have sailed him with stock
at high prices. Russell Sage, for in
Instance-sleek, mild-mannefed Presby-
terrain elder that he is-Bold ont On
Cyrus over $500 shares Of stock in one
lot two or three months ago at about
148. and to deceive Cyrus into the idea
that he was playing fair, Elder Sage
has been borrowing that amount oil
| stock ever since rather than run the risk
of detection by giving up the shares that
stand in his own name.
Mr. Sage says now: "Cyrus still has
some money left. It is all wrong TO re-
port that he is dead broke"
If MIR. Field finds that his surplus is
in any way ~bnrdensome, however, he
can find, Mr.. Sage still in business at the
| old stand.